References force for B2B sales to new

         ReferencesFor more long-term strategy, Thelma should propose the CEO to formsmall projects to try out “store within store” model by renting store spaces toother vendors thru strategic partnerships. To reduce the real estate footprintand maximize the asset utilization, try out modular furniture studio by lowering displayof similar items, using the technology of3D imaging for customers to explore different products. At the same time expandthe view corridors and listing posts to be on exploitation and exploration modeat the same time to tap into future opportunities and threats much earlier.    Thelma’s as the chair of the board should proposeto proceed on areas where the company has competitive advantages to capitalizeon quick-wins and get the core of the business to get on with execution.

Byaggressively marketing and increasing sales force for B2B sales to new homedevelopments and builders by offering home installation services, At the sametime new home buyers with discounts for appliance upgrades and long-termwarranties at reduced rates, through builder’s new home welcome package offers. Improve Ralph’s furniture online presence and the ability for a customerto store pickup and return online purchases to the store cashing in oncustomer’s instant gratification. Training the sales force on more in-depthknowledge of products to act as product experts and customer advisers to createa unique value proposition for the customers. Combine and form a more holisticinventory system to use stores as mini-warehouses and shipping hubs.    Ralph’s furniture still has advantages given the kind of product itsells, big-ticket items like furniture, big-screen TVs, and electronics thatmany customers still prefer to buy in the store.Thelma should focus on a business model which will revolve around offering aunique value proposition to the customer by providing cohesive shoppingexperience rather than just competing on prizes.

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   RecommendationsTechnology has immense power to solve the problems by mergingRalph’s online and store inventory systems to use stores as mini-warehouses toship the products to the customers within nearby area reducing shipping costsand overall inventory management, treating central warehouse and storeinventory as holistic stock. By talking to on-floor sales employees, Theyshould gather insights on their challenges serving the customers. Arming salesemployees with sophisticated tools and superior product knowledge together withlucrative incentives based on the final sales (considering returns). At thesame time making sure they are not confronting, pressuring or shaming thecustomer to buy from the store instead acting as product experts and adviserswhen customers need them. It will make sure the sales force of Ralph’s furnitureis more engaged with customers providing them with a cohesive shopping experienceas a unique value proposition.             Start with discounted home installationservice for new sales and repair services for out of warranty items, where Ralph’s furniture would not be competing withonline retailers. It is their space to exploit.                 Ralph’sfurniture needs to up their game on B2B sales by aggressively marketing to futurehome and condo development builders by offering value propositions; which arebeneficial to the builders as well as their new home buyers.

Providing discountcoupons for upgrading or buying new appliances and furniture. Including softperks such as no hassle long-term warranties on reduced prizes, on-site repairservices, free disposal, and charity donation service of old furniture, mattress,and appliance on the purchase of similar new items from Ralph’s furniture.             Ralph’s furniture starts exploring aline of unique and exclusive offerings with strategic partnershipswith vendors and manufacturers so thatthe only way to get a specific product is through them and never to be foundonline or anywhere else.

Also explore the options of “store within a store,” by virtuallyrenting space out to other vendors extracting rents as well as some fees basedtheir sales revenue acting partly as a real estate property owner. Strick dealswith excellent electronics and appliance companies like Samsung, Sony, LG, Apple, etc..

to feature their products in brandedareas within Ralph’s furniture stores, allowing them to set up their kiosk creating new revenue stream at the same time increasingcustomer turnout to the shops.            Ralph’sfurniture also needs to be aggressive with their online presence with the goalto allow customers to buy products with their preferred channel. Ralph’s furniturehas a unique advantage over online retailers by offering customers same daystore pick-up or returns of online orders to the store, cashing in on instant customergratification. Let the store serve as communication center and showroomfor Ralph’s furniture website and mobile application.

Finding multiple pointsof connecting with customers will increase customer loyalty and will enticecustomers to spend more. In this omnichannelworld, the store will operate more like a marketing tool to create a buzz anda way to provide service rather than an onlyway to ensure the service.The key to confronting the challenge willbe to exploit the advantage Ralph furniture stores have in their physicalconnection with the shoppers is by upping their service quotient, improving thelevel of service they provide to the customers. Buildingtrust and create buzz for shoppers to come into their stores morefrequently.

Implement techniques to have a greater understanding of the customersand acting more like help desk or solution centerstaff. The most significant advantageRalph’s furniture has is the real estate and customer presence in the store.First and foremost, price-matching toonline retailers will be vital inretaining and growing customer base and traffic to the store.Available Options to Combat Showrooming            For Thelma Clark and CEO Stanley, at Ralph’s furniture superstore it is crucial to understand the detailed effects ofshowrooming on Ralph’s stores, at the same time exploiting the competitiveadvantages Ralph furniture has against online retailers to devise a winningbusiness model for the future. Given that it is not an urgent problem. They havesome time on their hands to try out specific options for a short period to move into a planned change with a thoroughly thought out business model andstrategy to compete. They will have to first look at all available options tocombat showrooming, prioritizing the top opportunitiesbased on their anticipated value addition to the company, formalizing them intosmall projects to try them out on a small scaleas pilots and wait for the results before implementing them on a bigger scale.

Thisbattle must be fought on multiple dimensions simultaneously, be it improving customerservice, increasing own online presence, exploring opportunities for newrevenue streams, maximizing returns on asset utilization by utilizing thestores space more innovatively, cost-cutting,efficient operations, and most importantly identifying the unique value proposition for the customers.  The phenomenon where more and more customers (especiallymillennials) are using brick and motor stores to evaluate and research productsand ultimately buy the products from the online retailers such as Amazon atreduced prize is called “Showrooming.” Customersbenefit from using the brick and motor store to evaluate product attributeswhich are not digital by getting their look and feel in real time.

Thisshopping technique is resulting in brick and motor store losing potential customers and adverselyimpacting store profitability. Ralph’s furniture has reported 700K losses inrecent quarterly results.Ralph’sFurniture Challenge


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